Reaves W H & Co. Inc. boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 20.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,931,891 shares of the utilities provider’s stock after acquiring an additional 331,348 shares during the period. Public Service Enterprise Group accounts for about 4.1% of Reaves W H & Co. Inc.’s holdings, making the stock its 2nd biggest position. Reaves W H & Co. Inc. owned 0.39% of Public Service Enterprise Group worth $108,630,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of PEG. United Capital Financial Advisers LLC increased its holdings in Public Service Enterprise Group by 1.3% in the 2nd quarter. United Capital Financial Advisers LLC now owns 12,911 shares of the utilities provider’s stock worth $817,000 after acquiring an additional 166 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Public Service Enterprise Group by 0.3% in the 2nd quarter. Avantax Advisory Services Inc. now owns 55,610 shares of the utilities provider’s stock worth $3,519,000 after acquiring an additional 176 shares in the last quarter. Woodward Diversified Capital LLC increased its holdings in Public Service Enterprise Group by 3.9% in the 2nd quarter. Woodward Diversified Capital LLC now owns 4,794 shares of the utilities provider’s stock worth $303,000 after acquiring an additional 181 shares in the last quarter. Savant Capital LLC increased its holdings in Public Service Enterprise Group by 5.3% in the 2nd quarter. Savant Capital LLC now owns 3,669 shares of the utilities provider’s stock worth $232,000 after acquiring an additional 184 shares in the last quarter. Finally, 1620 Investment Advisors Inc. grew its holdings in Public Service Enterprise Group by 3.7% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 5,325 shares of the utilities provider’s stock valued at $337,000 after buying an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 70.67% of the company’s stock.
Public Service Enterprise Group Trading Down 0.3 %
Shares of NYSE:PEG traded down $0.16 on Tuesday, hitting $60.94. 381,097 shares of the company’s stock were exchanged, compared to its average volume of 1,972,605. Public Service Enterprise Group Incorporated has a 12 month low of $52.51 and a 12 month high of $75.61. The stock has a market capitalization of $30.41 billion, a price-to-earnings ratio of 44.93, a price-to-earnings-growth ratio of 7.49 and a beta of 0.56. The business’s 50 day simple moving average is $60.80 and its two-hundred day simple moving average is $61.26. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.46.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its earnings results on Monday, October 31st. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Public Service Enterprise Group had a return on equity of 12.96% and a net margin of 7.08%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.46 EPS for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9th were given a dividend of $0.54 per share. The ex-dividend date was Thursday, December 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.54%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 158.82%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on PEG shares. Guggenheim cut their price objective on shares of Public Service Enterprise Group to $67.00 in a report on Friday, November 4th. StockNews.com lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, November 1st. BMO Capital Markets cut their target price on shares of Public Service Enterprise Group from $64.00 to $59.00 and set a “market perform” rating for the company in a report on Monday, November 14th. Finally, Wolfe Research lowered shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a report on Thursday, November 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.20.
About Public Service Enterprise Group
Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.
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